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TradeSmart1 Broker Review

It was undoubtedly difficult to review the TradeSmart1 broker. We had to decide what to convey to you and how to provide it because there was so much contradictory information and false data. Read our whole TradeSmart1 review to find out why it is not a wise idea to deposit your money with this trading company.

Broker status: Unregulated
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: No Information
Owned by: Trade Smart 1
Headquarters Country: Cyprus
Foundation year: 2020
Supported Platforms: Web Trader
Minimum Deposit: 250 EUR
Cryptocurrencies: Available
Types of Assets: FX, indices, bonds, commodities, shares, cryptocurrencies
Maximum Leverage: N/A
Free Demo Account: No
Accepts US clients: No

TradeSmart1 Regulation

The first thing you notice when you visit the broker’s website is that it is based in Cyprus. You get the conclusion that it must be governed and legitimate as a result. Furthermore, Trade Smart 1, a London-based company, is the claimed owner. We now face an issue. The House of Companies is purportedly in charge of overseeing the company. But this isn’t a regulator; it’s just a list of UK-based companies.

The company must contact the FCA to acquire a license. The last major red flag was the claim that governing law is the law of the Commonwealth of Dominica.

Depending on this, we may come to the conclusion that the broker is likely located offshore, impersonating a legitimate company in order to entice clients in the EU. Beware about the trading scam TradeSmart1.

Withdrawal Issues

Naturally, withdrawal issues are expected when everything is questionable, as it is in the case with TradeSmart1. In a variety of ways, the broker is preventing clients from receiving their funds back. After requesting a payment, several customers reported being unable to get into their accounts.

Others, however, received bonuses at the outset of trading without being informed that they would impact withdrawals, and if they want their funds back, they will have to meet absurd rollover requirements.

All of this implies just one thing: The broker depends on the fact that it is unregulated and avoids collecting payment from clients when the time comes.

Areas Of TradeSmart1 Scam

The broker is mostly present in Greece, Cyprus, and Albania, according to TradeSmart1 reviews. This can be a possible explanation for the website’s fake Cypriot address.

However, keep in mind that it is not permitted to offer financial services in any country, so anytime TradeSmart1 forex brokerage reaches out to you, be sure to deny the offer for your own security.

On several review platforms, including Trustpilot, the broker has been flagged as a fraud. With more than 60% of customers giving it the lowest score, it has a poor reputation. According to these reports, customers are compelled to deposit huge sums of money without ever receiving a reward.

Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.[/vc_column_text][/vc_column][/vc_row]